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HBC’s founding of the Hudson Bay areas trading possibilities
HBC ship Nonsuch left London on a speculative voyage to Hudson Bay. After a year they returned to England proving that fur trading in the Hudson Bay area was not only possible but extremely profitable. -
The Hudson Bay Company was born with the signing of the Royal Charter
The Hudson Bay is the oldest trading company. The signing of the Charter for trading in the Hudson Bay gave the company a monopoly over all the trade in the area (an advantage over the competition). This created Rupert’s Land which is now considered to be 40% of Canada. -
The second post was established by HBC and was called the Moose Factory
The Moose factory which is HBC’s second post became the centre of supplies distribution for the Southern Department. This was the oldest English speaking settlement in what is now known as the province of Ontario and was located on Factory Island and was the base of plan discussion for the governor of Rupert’s Land and the council later on. -
HBC’s share of the fur trade continues to decline due to competition from Montreal “Pedlars”
The pedlars sold more inventory and built a strong customer base (most market share). The competition HBC faced resulted in business expansion throughout Canada and the evolution of new business techniques. This highly influenced the business sector today because there is a constant battle for customers (competition). -
HBC’s hand in the development of Edmonton
Fort Edmonton was founded by HBC’s William Tomson giving way to great returns as in 1797 alone, 12,512 made Beaver were traded at Fort Edmonton. But HBC post changed locations so much due to dropping sales that they ended up playing a big role in creating the groundwork for the eventual development of Edmonton city. -
HBC’s intertwining history with Victoria
HBC establishes Fort Victoria as a depot for the northern Pacific trade and was the company's main headquarters and home to more than 50 residents by 1858. -
HBC’s opening of their first downtown department store in Calgary
HBC bought the Canadian assets of I.G. Baker. In Calgary, allowing them to acquire their former rival’s premises while the existing site was rebuilt. As the city grew the business grew and additions were made to the building and in 1917 it was officially known as HBC’s original six modern flagship department stores. -
HBC opens the first trading post in Eastern Arctic
HBC sends Ralph Parsons to the northern borders of Quebec to make contact with the Inuit. This results in business greatly expanding in Canada and more trading relationships getting formed. The Inuit people become part of the picture and HBC gets access to exclusive resources that are only accessible in the Eastern Arctic. -
Canada’s first shopping centre opens in Vancouver
This shopping centre marks the beginning of a trend for shopping areas in cities with large suburban populations (ex. malls). Retail started to move into the suburbs, away from the congested downtown areas. This resulted in the population of the suburbs in Canada to expand. -
HBC becomes a Canadian company
Queen Elizabeth II grants the company a charter allowing them to become a Canadian company because the majority of shareholders were Canadian. This strengthened Canada (Canadian business) and also the HBC because they had greater access to resources.
